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Finance Minister Dr. Musokotwane Explains Debt Restructuring and Economic Outlook

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Finance Minister Dr. Musokotwane Explains Debt Restructuring and Economic Outlook
Finance Minister
Minister of Finance and National Planning Situmbeko Musokotwane

Finance Minister Dr. Situmbeko Musokotwane, in an exclusive interview on Hot-FM yesterday, provided insights into Zambia’s recent debt restructuring process and outlined key priorities for the country’s economic recovery. Here are some highlights from the interview:

  • The UPND government celebrates the successful conclusion of the debt restructuring with Eurobond holders, marking a significant milestone in addressing the country’s US$3.5 billion debt.
  • Dr. Musokotwane emphasized the complexity of the debt restructuring process, contrasting it with previous initiatives like the Highly Indebted Poor Countries (HIPC) Initiative. Unlike HIPC, where Zambia owed fewer creditors, the current restructuring involved negotiations with various private creditors, making it a challenging endeavor.
  • While immediate price reductions for essential commodities may not be substantial, the minister assured citizens that some prices would decrease gradually.
  • Dr. Musokotwane underscored the critical role of international partners, particularly the IMF, in supporting Zambia’s economic stability. Adherence to commitments will be closely monitored, with IMF assessments scheduled every six months.
  • Despite progress with Eurobond holders, the government continues discussions with commercial banks and local service providers to address outstanding debts.
  • Looking ahead, Dr. Musokotwane highlighted the importance of increasing copper production and agricultural productivity to boost the economy and enhance food security. He emphasized that failure to meet obligations could jeopardize the debt restructuring program.
  • The minister cautioned against expecting debt cancellation, emphasizing the need for responsible borrowing and prudent financial management.
  • Overall, the debt restructuring agreement provides Zambia with an opportunity to prioritize investments for economic growth and stability.
  • Dr. Musokotwane’s remarks shed light on the complexities of Zambia’s debt situation and the government’s commitment to navigating these challenges while advancing economic development and stability.

Meanwhile Government has expressed concern over the spread of misinformation regarding Zambia’s recently secured debt restructuring deal. Chief Government Spokesperson Cornelius Mweetwa emphasized the need for accurate reporting on the matter, citing misinformation circulating on various platforms.

Mweetwa, who also serves as the Information and Media Minister, urged journalists to address the misinformation challenge by providing clear explanations of what the debt restructuring deal entails for the people. His remarks were delivered during the World Vision Zambia Media Awards ceremony in Lusaka, with Ministry of Information and Media Permanent Secretary Thabo Kawana representing him.

In addition to clarifying the debt restructuring deal, Mweetwa encouraged journalists to prioritize reporting on developmental issues that directly impact the populace, rather than focusing solely on politics.

John Hasse, Chief Executive Officer of World Vision Zambia, reiterated the importance of the media in keeping the public informed about significant developments. Meanwhile, Lorraine Chisanga, Chairperson of the Media Institute of Southern Africa-Zambia (MISA-Zambia), underscored the media’s role in shedding light on inequalities affecting children. Chisanga emphasized that journalists play a crucial role in holding decision-makers accountable for addressing issues affecting children across the country.

Government advised to take advantage of good rainfall pattern in Muchinga

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Government advised to take advantage of good rainfall pattern in Muchinga

Two senior citizens in Chinsali District of Muchinga Province have advised the Government to take advantage of good rainfall patterns in the northern part of the country to grow more food for the nation.

Mr Oliver Mulenga and Aggrey Musamba made the appeal on Monday during a stakeholders’ meeting with the Permanent Secretary for Special Duties at Cabinet Office, Patrick Mucheleka.

The duo proposed that if the Government can commercialise and support more farmers with meaningful farming inputs and a variety of crops to feed, the nation can be assured of adequate food.

Mr Mulenga, who is a fish farmer and retired civil servant, said there is a need to engage cooperative officers to scrutinise the cooperatives and ensure that serious farmers who understand the concept of agribusiness are supported with inputs.
He further stated that it is high time that Zambians started taking farming seriously and ensure that only those that can expand their maize field access input support under the Farmers Input Support Programme.

Mr Mulenga advised that Chinsali needs to start exporting value-added products such as mealie meal and appealed to the Government to revamp the milling company in the district.

Meanwhile, Musamba also stressed the need for the Government to facilitate the establishment of a milling company in Chinsali, which he said will add value to the agribusiness activities in the district.

He further pointed out that poultry and aquaculture have expanded at a rapid pace, but noted that what is discouraging other farmers is the high price of feed for chickens and fish which currently is sourced from Lusaka.

Mr Musamba proposed that if the old Chinsali milling was to be revamped, it could start producing poultry and fish feed thereby lessening the cost as farmers would no longer have a burden to travel to Lusaka to buy feed.

He added that if this is achieved, fish will be affordable in the district while the surplus will be sold to other districts.

Chamber of Mines applauds Government’s debt agreement with bondholders.

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Chamber of Mines applauds Government’s debt agreement with bondholders.

The Zambia Chamber of Mines (ZCM), has congratulated the Republican President, Mr. Hakainde Hichilema and Zambia’s Finance Minister, Honourable Situmbeko Musokotwane on the successful renegotiation of the commercial bondholder debt.

In celebrating the outcome, Chamber of Mines President, Dr Godwin Beene, noted that the Zambian Treasury was now able to squarely focus on the restoration of broad economic growth to levels that spur development without leaving even the most vulnerable businesses behind.

The Bondholder Debt agreement also strongly positions the country to act on the Head of State’s emphasis on the need to avail Zambian businesses fairly priced capital by reinforcing policy, fiscal and regulatory stability.

Dr. Beene pointed out that the consistency shown by Government in getting to this tipping point in the nation’s fortunes serves as an example of what is required of all citizens, corporate and individual, to get the country growing at rates that effect real change at both household and macro-economic level.

“The President has demonstrated that it is time to work and deliver and the mining industry is geared to work hand in hand with government in driving tangible growth,” Dr. Beene said.

The Chamber of Mines is an association that represents the mining and allied industry and promotes sustainable and responsible mining.

Presidents of Zambia and Botswana Meet to Strengthen Bilateral Ties

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Presidents of Zambia and Botswana Meet to Strengthen Bilateral Ties

President Hakainde Hichilema yesterday welcomed His Excellency Dr. Mokgweetsi Eric Keabetswe Masisi, the President of the Republic of Botswana, at the Kazungula Bridge border post.

President Masisi’s visit to Zambia marks a crucial moment in the ongoing efforts to deepen bilateral relations between the two neighboring countries. The meeting between the two leaders provided an opportunity to review and discuss various aspects of cooperation, including enhancing people-to-people connections and strengthening multilateral relations within the Southern African Development Community (SADC).

During his working visit, President Masisi engaged in discussions aimed at signing memoranda of understanding across various fields. These agreements are intended to further solidify the bonds of friendship and cooperation between Zambia and Botswana.

President Hichilema expressed his gratitude for President Masisi’s visit and emphasized the importance of fostering strong ties between the two nations. The meeting underscores the commitment of both leaders to promote mutual prosperity and development in the region.

Mporokoso MP Brian Mundubile Suspended for 30 Days Over Parliamentary Breach

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Mporokoso MP Brian Mundubile Suspended for 30 Days Over Parliamentary Breach

Mporokoso Member of Parliament, Brian Mundubile, has been handed a 30-day suspension for breaching parliamentary privileges and showing contempt towards the institution.

The decision to suspend Mundubile stems from a ruling on a point of order raised on October 6, 2023, by nominated Member of Parliament, Likando Mufalali, and a complaint lodged by Moomba Member of Parliament, Fred Chaatila.

Mundubile’s conduct on the floor of the house, particularly his remarks during a press briefing by the Patriotic Front at the National Assembly media center, was deemed demeaning and reflective of negatively on the character and impartiality of the Second Deputy Speaker, Moses Moyo, in the execution of his duties.

During the proceedings to determine his case, Mundubile defended his actions, citing the lack of alternative avenues to express his grievances and claiming unjust treatment by the presiding officer.

However, in delivering the ruling, First Deputy Speaker, Malungo Chisangano, reminded Mundubile of his responsibilities as a long-serving Member of Parliament and a former leader of the opposition. Chisangano emphasized that while freedom of speech is valued, it does not justify behavior that undermines parliamentary decorum and authority.

Chisangano stressed the importance of exemplary conduct from all parliamentarians, stating that Mundubile’s actions were not above reproach and warranted disciplinary action.

Buyoya’s botched mission overseas.

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Buyoya’s botched mission overseas.

Immediately he cut his teeth in reportage, Buyoya endeavoured to follow into the footsteps of those gone before him, religiously…….giants of the small screens such as the likes of Charles Mando, Gorret Mapulanga, Frank Mutubila, Maureen Nkandu etc.

Whenever guests appeared before him, he’d unsettle them with probing questions as his penetrating gaze bored into them like a drilling machine. Kings and Queens, Princes and Princesses, Captains of the industry and the Clergy, Politicians and Celebrities would be humbled, leaving them soaked like broiler chickens!

When those that spoke through the nostrils in the land far beyond the valleys and deserts, mountains and forests, rivers and seas caught wind of his exploits, they enticed him with a big carrot with promises of grounding into their peculiar language. They soon dispatched a jumbo jet to fish him out of Mambia.

In no time, Buyoya was on his way to United Kinklidom – the land of temperatures equivalent to the deep freezer. His dear loving mother had of course taken the trouble of preparing him enough akabwali, cassava and groundnuts, kakeya, ichiboboli, mabisi, matamba, mbeba, chibwantu, chikanda and inswa for the duration of his stay in the land of Caucasians who were reputed to consume frogs, snails and crabs in large portions!

When Buyoya made his maiden appearance on their small screens, folks with fair skins were enchanted and mesmerised with his wit and immense intellect. He actually spoke the language of the Queen better than most of them. He presented his shows with supreme confidence, and when it was his time to conduct interviews, he asked questions that made many of his guests squeal like squirrels and blush with embarassment. They had found their missing link…..finally. Mambians were particularly proud to see one of their own conquer the Caucasians.

When he pitched up for duties next morning…… it struck him as rather odd to find the office devoid of the usual hubbub of laughter and chartering. Everyone seemed to be conversing in whispers or avoided making eye contact with him, as much as possible.

“Le boss said you should see him immediately you step in…..” the receptionist said to him as she furiously typed on her computer.

‘Le Boss,’ as the man in charge was euphemistically referred to, had an explosive temperament. He was feared by all and sundry. You dared cross paths with him at your own peril. And yet, there was Buyoya…… required to present himself before the mighty one, pronto. What wrong had he done to warrant summons from so early in the morning.

As he found his way to Le boss’ office upstairs, he was overcome with utmost trepidation. He obviously expected the worst! Without much looking up from whatever he was engrossed in or indeed bothering to return his pleasantries, he simply thrust an envelope at him. Buyoya was trembling spasmodically as he opened it.

And viola…..it was a generous job offer! It promised a 6 figure pay cheque, fully furnished bungalow, personal to holder motor vehicle and annual vacation to a destination of his choice!

If ‘Le boss’ expected him to jump through the roof, punch his fist into the air and shout “yes!” then he was disappointed. Buyoya simply sunk deep in his seat and looked at him questioningly.

“What the hell is wrong with you….. dude!” Le boss was struck by thunderbolt.

Unbeknownst to anyone, Buyoya’s heart had long travelled back home to Mambia. He had run out of his precious supplies – akabwali, utu mintesa, cassava and groundnuts; the kakeya and ichiboboli; mabisi, matamba, mbeba, chibwantu, chikanda and of course inswa. He was left with no option but to suffer through something he considered foreign to his tastebuds – pizarros, sambwembwes and sushis! Of course nothing tasted better than the cooking of his beloved mama back in Chilenje!

“Sorry, Sir…..” he said, nonchalantly. “Am heading back home to Mambia….”

The balding man with a prominent Victorian nose and a belly that looked as if it was about to explode was shocked!

“Like……seriously?” he detached his cigar from his mouth, slowly. “Get the f…..k of my face!”

As the jumbo jet taxied off the runway and finally took off to the skies, it suddenly encountered a terrible turbulence that shook it violently. Everyone was in panick mode. Nothing of this sort had occurred before. Everyone was screaming and shouting and asking the captain to “please do something about it!”

As the hostesses ran around hither and thither, desperately trying to calm down the situation, they realised that Buyoya comfortably remained positioned calm and collected in his economy seat near the toilet.

“He’s the reason for our misery,” one of the passengers pointed an accusing finger at him.

“How can he prefer to feature on Diamand TV than the much popular BCC?” another one chipped in. “The gods must be mad!”

“This is akin to choosing to watch Muzorewa FC instead of Manu,” quipped a man clutching a big camera close to his chest.

“He wants to go back home to mommy,” chuckled a skinny fella as everyone burst into uncontrollable laughter. “Why can’t we throw him out of the plane….”

“Yeah!” They shouted in unison.

Fortunately for him, he landed on a United Kinklidom bound ship.

Prince Bill M. Kaping’a
Political/Social Analyst

Former Zambian Minister Chishimba Kambwili’s Health Improving in South African Hospital

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Former Zambian Minister Chishimba Kambwili’s Health Improving in South African Hospital

Former Zambian Information and Broadcasting Services Minister, Chishimba Kambwili, is reportedly showing signs of improvement while receiving specialized treatment at a hospital in South Africa.

Mr. Kambwili was airlifted to South Africa earlier this year for specialized medical attention, and according to his brother, Mutale Kambwili, his health is steadily improving.

In a telephone interview with ZNBC News from South Africa, Pastor Mutale Kambwili expressed gratitude for the positive progress in his brother’s health. He mentioned that Chishimba Kambwili is looking well and responding positively to the treatment he is receiving.

Furthermore, Pastor Kambwili extended his appreciation to the Zambian government, particularly President Hakainde Hichilema, for facilitating the evacuation of his brother to South Africa for medical care. He also conveyed heartfelt thanks to the Zambian people for their prayers and support during this challenging time.

Chishimba Kambwili’s health condition has been a matter of concern for many, and the news of his improving health brings hope and relief to his family, friends, and well-wishers across the country.

The Kambwili family continues to remain optimistic about his recovery, and they express their gratitude for the outpouring of support and prayers from all corners of Zambia.

NARIC PROBLEM: UNZA First Year Student Is A Form 6 (Grade 13) In Disguise

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NARIC PROBLEM: UNZA First Year Student Is A Form 6 (Grade 13) In Disguise

By Field Ruwe EdD

I beg you all UNZA students be persuaded that no one is more passionate than me to see you turn our beloved country into a most prosperous nation. Please be reassured that my intentions are purely noble and are not aimed at undermining your intelligence or yourself-esteem as you strive to become Zambia’s erudite human capital.

Believe me I dedicated my degree to the improvement of tertiary education in Zambia because I have since learned that those who lack personal achievement tend to resort to embracing nationalistic sentiments in order to compensate for their own inadequacies. They passionately defend their country’s shortcomings to artificially bolster their false sense of commitment to nation building.

I mean good. The greatest pleasure in me is doing things people say I can’t do. Look, if it weren’t for me, the discourse on the quality of the UNZA degrees would not have arisen. Come with me, we can transform the University of Zambia into an even more exemplary institution of higher learning. Please peruse the entirety of this article not like a person who lacks personal achievement, but like the academic student you are.

Why Chibale Avoided To Mention NARIC In His Press Release

Had the Vice Chancellor of the University of Zambia deployed Dr. Mfune and not Acting Head of Communication and Marketing Damaseke Chibale to defend the university, the uproar on inferior degrees would have concluded more amicably with efforts to find solutions. Chibale is a philistine who uses the generic cookie cutter template to categorically deny, tactfully shift blame, and brutally besmirch.

During an interview with Lusaka Star, Dr. Orleans Mfume, who is Higher Education Quality Assurance expert and lecturer at UNZA, elucidated the discrepancy between the UNZA degree and that of its UK counterpart, deeming it a technical hitch.
Dr. Mfume, posited that the perceived inferiority of the UNZA degree could be attributed to the absence of an A-Level certificate at secondary school level, as a prerequisite for university admission, like is the case in the UK where such a qualification is required for pursuing a Bachelor’s Degree. Dr. Mfume further stated; “For you to pursue a degree in Zambia you need O-Levels whilst in the UK system you need A-Levels.”

In the United Kingdom, students typically complete their A-Levels in Year 12 (Grade 12) and Year 13 (Grade 13) as part of their preparation for university. On the other hand, the Zambian education system does not have A-Levels as a separate qualification for university entrance. Instead, A-Levels are seamlessly integrated into the structured four-year Bachelor’s Degree program. It is here the technical hitch lies.

Since 1965, the University of Zambia first-year students have been spending one year disguised as Form 6 (Grade 13) secondary school students studying A-Levels, leaving them with only three years of the actual four-year degree. This arrangement ultimately diminishes the value of the degree to a diploma as evidenced by the UK and South African NARIC comparability systems.

This is what Acting Head of Communication and Marketing Damaseke Chibale did not want to divulge. Burdened by the apprehension of exposing this longstanding technical hitch embedded within the degree curriculum, he feared its repercussions.

How A-Levels Were Embedded In The UNZA Bachelor’s Degree

To explore the origins of this development, it is essential to delve into the historical background of Zambia’s Secondary School education system. In the 1880s, primary education for Africans was established by the French Protestant Mission in Barotseland. The commencement of secondary education for Africans was delayed until the inauguration of Munali Boys Secondary School in 1938, which initially enrolled 11 pupils.

By 1951, the number of African students in secondary schools had reached 405, according to J. Elliot in his publication “Education in Zambia: Quantitative Expansion at the Expense of Qualitative Improvement? At the time, secondary education was provided from Form 1 to Form 6.

Elliot notes that the inaugural Form 6 (A-Level) examination was completed by Munali Secondary School students in 1957, following its introduction in England and Wales six years prior (1951). Initially intended as subject-based qualifications essential for university entry, the A-Levels were later adopted across the Commonwealth.

In January 1964, the Emergency Development Plan (January-December 1964) was implemented by the then Prime Minister Kenneth Kaunda with the aim of expeditiously reforming the education system in Zambia. The plan sought to decolonize the curriculum in order to cater to the increasing needs of the nation.

The University of Zambia, founded in 1965, brought about significant alterations to the secondary education landscape. The revised secondary school curriculum included classes ranging from Form 1 to Form 5, and consisted two distinct cycles: the initial cycle spanned 2 years, while the subsequent cycle spanned 3 years. Upon completion of the five-year period, a student received an O-Level certificate.

Form 6, which provided A-Levels, was moved to the University of Zambia as a fundamental element of the comprehensive four-year Baccalaureate degree curriculum. The decision is perhaps one of the gravest errors made by the Kaunda government. The obligatory one-year A-Levels significantly impacted the Bachelor’s degree, essentially reducing its Bachelor’s course work to three years. Consequently, the UNZA Bachelor’s degree was also reduced to a diploma in the UK and South Africa.

What Then Is The Remedy?

Dr. Mfune assures the nation that the Higher Education Quality Assurance has already responded through the revised curriculum. To this he added; “Explicit in the new framework is the introduction of an A-Level certificate as the requirement to university education while the O-Level will be for college entry, thus at policy level, the technical hitch is already being fixed and this harmonizes our Higher Education system with both the UK and South Africa.”

Revisions by the Higher Education Quality Assurance stand as an affirmation that the University of Zambia’s Bachelor’s Degree has been inferior to that of the UK and the Commonwealth for 59 years. Once the modifications are effected, newly enrolled students will no longer endure an entire year imitating Form 6 students, but rather focus on their Bachelor’s Degree studies. And when they pursue further studies or employment abroad, they will be treated as equals. Viva UNZA!

The rights to this article belong to ZDI (Zambia Development Institute), a proposed US-based Zambian think tank. On May 19, 2022, a comprehensive proposal was delivered to President Hichilema through Principal Private Secretary Bradford Machila. Author, Dr. Field Ruwe holds a Doctor of Education in Organizational Leadership. He is affiliated with Northeastern University, Boston, MA. US.

American Jewish Committee Grant Helps Provide Zambia with Much Needed Drought Relief

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American Jewish Committee (AJC) announced today a grant awarded to Tevel B’Tzedek (Tevel), an Israeli NGO dedicated to tackling extreme poverty in subsistence farming villages throughout sub-Saharan Africa and South Asia. This funding will bolster Tevel’s efforts to deliver aid to the people of Zambia. Following a deadly cholera outbreak, the African nation recently declared a national emergency based on widespread drought, which poses significant risks to agriculture, food and water security, and access to electricity.

“AJC stands shoulder to shoulder with Zambia in their time of great need,” said Wayne Sussman, Director of AJC’s Africa Institute. “Zambia has been a great partner of the United States and Israel. We are pleased to join forces with Tevel B’Tzedek to provide drought relief in rural Zambia.”

AJC has a long-standing relationship with the people and government of Zambia, and has, over the years, met with numerous ambassadors, presidents, and foreign ministers.

Tevel Founding Director Micha Odenheimer said, “Tevel b’Tzedek is delighted to announce the receipt of a generous and very timely donation from American Jewish Committee to aid our work helping to provide food security in the drought-stricken Lusaka Province, Kafue District of Zambia. Tevel has been working in Zambia for the past several years. The organization is focused on aiding subsistence farming villages to grow food year-round through Israeli irrigation techniques, training, alternative livelihood and input loans, and the cultivation and training of young leadership in the villages. Tevel’s initiative in village banking will also make small loans available to ensure food security as famine threatens. AJC’s generous support has come at a crucial time for Zambia and Tevel and we are tremendously grateful for the support.”

AJC’s grant to support relief efforts in Zambia comes from the agency’s Heilbrunn Humanitarian Relief Fund. Humanitarian relief has been a core of AJC’s work for over a century.

US Senators visit Zambia

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US Senators visit Zambia
US senators Chris Coon and Patty Murray meet President Hichilema at State house
President Hichilema with Senators Chris Coon and Patty Murray at State house

US Senators joined President Hakainde Hichilema for a productive meeting this morning at State House, with Senator Patty Murray leading the delegation.The senators expressed their commitment to fostering robust economic ties and collaborative efforts to address shared challenges during their visit to Southern African countries.

President Hakainde Hichilema held a productive meeting this morning at State House with a delegation of U.S. senators led by Senator Patty Murray.

Accompanying Senator Murray were Senator Chris Coons from Delaware, Senator Gary Peters from Michigan, Senator Catherine Cortez Masto from Nevada, and Senator Peter Welch from Vermont.

The discussions during the meeting spanned a wide array of topics, with a primary focus on the enduring friendship between Zambia and the United States. President Hichilema provided insights into Zambia’s ongoing efforts to reposition its social, economic, and political trajectory, underscoring the significance of the national development plan as the guiding blueprint for these endeavors.

President Hichilema conveyed his appreciation to the United States for their swift decisions regarding the implementation of the Lobito Corridor Rail line project. He lauded the U.S. government for its proactive approach towards advancing the project, which holds immense potential for enhancing Zambia’s connectivity and regional prominence.

The Lobito Rail line, as highlighted by President Hichilema, will serve as a vital link connecting the Atlantic and Indian Oceans through Angola, Zambia, and the Democratic Republic of Congo. He underscored the transformative impact of the project on key sectors such as agriculture, tourism, and mining, as it traverses regions rich in natural resources and favorable climatic conditions.

Among the issues deliberated were the challenges posed by drought, food security concerns, and initiatives aimed at generating employment opportunities for Zambian women and youth. President Hichilema expressed gratitude for the U.S. government’s support during the recently concluded debt restructuring process, emphasizing Zambia’s commitment to continued engagement with international partners for the betterment of the country.

In response, Senator Patty Murray expressed optimism regarding the potential of the Lobito Corridor investment to drive inclusive economic growth and bolster sustainable supply chains, ultimately benefiting the Zambian people at large. She affirmed the U.S.’s commitment to partnering with Zambia in addressing pressing challenges, including the drought affecting crops and food security.

Senator Murray highlighted the longstanding partnership between the United States and Zambia, citing significant investments exceeding $7 billion since 2000 in critical sectors such as public health, education, and food security.

The delegation is visiting Southern African countries including Malawi, Angola and Botswana to discuss investments in the region and ways to strengthen political, economic and security partnerships.

Albinism Foundation of Zambia Raises Alarm on Human Trafficking Threat

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Albinism Foundation of Zambia Raises Alarm on Human Trafficking Threat

The Albinism Foundation of Zambia has issued a poignant reminder of the peril faced by individuals with albinism, who are increasingly becoming targets for human trafficking.

John Chiti, the Technical Advisor of the foundation, emphasized the urgent need for collaborative efforts involving various media platforms and the Human Rights Commission to dispel myths surrounding albinism and educate the public on the plight of individuals with the condition.

In a telephone interview with ZANIS, Mr. Chiti underscored the Foundation’s pivotal role in combating the trafficking of albinos and ensuring their well-being. He stressed the importance of empowering members with educational assistance to enhance their quality of life and opportunities, thereby equipping them with knowledge of their human rights.

“Our members receive educational assistance to improve their lives and opportunities, therefore ensuring that they know their human rights,” stated Mr. Chiti.

Additionally, Mr. Chiti highlighted the Foundation’s provision of free sunscreen to protect against skin cancer, a condition to which individuals with albinism are particularly vulnerable. Moreover, the organization is actively engaged in educating the public about cancer prevention measures.

The alarming rise in incidents of human trafficking and the murder of people living with albinism has prompted widespread concern among various sectors of society. The Albinism Foundation of Zambia’s efforts to address these challenges are crucial in safeguarding the rights and well-being of individuals with albinism in the country.

As the Foundation continues its advocacy and support initiatives, concerted action from stakeholders across all levels is imperative to combat human trafficking and ensure the safety and dignity of all individuals, regardless of their physical attributes.

NAPSA Signs $650 Million Agreement to Upgrade Lusaka-Ndola Dual Carriageway

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NAPSA Signs $650 Million Agreement to Upgrade Lusaka-Ndola Dual Carriageway

The National Pensions Scheme Authority (NAPSA) has inked a momentous deal worth $650 million with Macro Oceans Investment Consortium (MOIC) to kickstart the transformation of the Lusaka-Ndola dual carriageway.

In a ceremony marking the signing of the agreement, NAPSA Director General, Muyangwa Muyangwa, disclosed that the ambitious project encompasses the upgrading of the 327-kilometer road, along with the rehabilitation of the 45-kilometer Luanshya-Fisenge-Masangano route.

Muyangwa elaborated that under this agreement, Macro Oceans Investment Consortium will embark on a 25-year concession period. During this time, the consortium will handle the financing, design, construction, and maintenance of both roads.

Myra Ngoma, Vice Board Chairperson of NAPSA, emphasized the profound benefits anticipated from the construction of the extensive road network. Ngoma highlighted that beyond enhancing connectivity, the upgraded roads will catalyze economic growth in urban and rural areas along the corridor. Additionally, the improved transportation infrastructure is expected to facilitate the movement of goods, further stimulating economic activities.

Representing the Workers Compensation Control Board, Laurian Haangala expressed confidence in the long-term advantages of investing in road infrastructure. Haangala asserted that such investments are poised to yield dividends for Zambia for years to come.

E. Shangfa, the representative of Macro Oceans Investment Consortium – LN Consortium Limited, exuded confidence in the timely completion of the project. Shangfa pledged that the construction of the road would be finalized within a span of three years.

The signing of this monumental agreement marks a significant step towards the modernization and development of Zambia’s transportation infrastructure. As the project progresses, expectations are high for the socio-economic transformation it will bring to communities along the Lusaka-Ndola corridor.

Mopani Deal Will Catapult into Forex Inflow – Dr Habazoka

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Mopani Deal Will Catapult into Forex Inflow – Dr Habazoka

Former Economic Association of Zambia (EAZ) president Lubinda Habazoka has observed that the Mopani Copper mines deal by government will catapult into inflow of forex into the country.

Dr Habazoka says the hand over majority shares of Mopani Copper mines to an equity partner, International Resources Holdings (IRH) by government is a welcome move he adds will enhance the needed liquidity in the country.
He explains that the International Resources Holdings is a serious and renowned company which will put in a lot to grow the 51 percent shares by growing the mine to a profitable status.

Speaking in an interview in Kitwe, the local economist said the revival of Mopani will bring in the much-needed forex and stabilize the financial fundamentals such as the local currency performance against the U.S Dollar once exports are escalated.
“International Resources Holdings is a big company and its acquisition of the majority shares in the mine will compel it to escalate the business operations as such this will bring in more forex into the country, the country will also gain through mineral royalty tax as it may not pay much in corporate tax in the short term,” he said.

The new investor will give more business opportunities to local suppliers so that there will be cash flow in the local communities.

Equally, financial analyst Trever Hambayi noted that the coming of the investor at Mopani will create jobs for a lot of people that were retrenched.

Mr Hambayi also noted that the development will also boost business for other businesses as the mine operations will ensure liquidity in the province.

He was optimistic that once in full operation, Mopani Copper Mines will push up the country’s overall revenue generation.
Recently, President Hakainde Hichilema officially handed over 51 per cent of Mopani Copper Mines to International Resources Holdings, a United Arab Emirates company, as an equity partner.
The development has cheered various stakeholders who are optimistic that the development will lead to a positive turnaround of the Copperbelt.

Zambia Celebrates Economic Turnaround with Landmark Debt Agreement

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Zambia Celebrates Economic Turnaround with Landmark Debt Agreement

President Hakainde Hichilema has hailed the recent $3.5 billion agreement with Eurobond holders as a significant milestone signaling a turnaround for Zambia’s economy. This agreement, according to President Hichilema, has freed up resources that were previously allocated to debt repayments, allowing Zambia to channel these funds towards essential developmental economic needs.

Addressing the nation on this landmark achievement, President Hichilema expressed gratitude to the Zambian people for their patience, affirming his administration’s dedication to improving their lives.

The World Bank has echoed President Hichilema’s sentiments, describing Zambia’s agreement with Eurobond holders as a crucial step in the country’s economic transformation. Nathan Belete, the World Bank Country Director, commended President Hichilema’s leadership in spearheading the negotiation process that led to this significant milestone. Belete emphasized the President’s commitment to reforming Zambia’s macro-economic stability.

In further support, the International Monetary Fund (IMF) has welcomed the debt restructuring agreement between Zambia and bondholders, deeming it consistent with the parameters of the IMF program.

British High Commissioner to Zambia, Nicholas Woolley, applauded all parties involved in securing the debt deal, recognizing it as a major achievement for Zambia and for the G20 Common Framework debt process.

Additionally, Nevers Mumba, President of the Movement for Multiparty Democracy (MMD), extended congratulations to President Hichilema and his economic team for successfully concluding the complex Eurobond debt restructuring process. Dr. Mumba emphasized the timely nature of the deal, given the economic strain faced by Zambia and its citizens, and expressed optimism that the restructuring, coupled with reorganization efforts in the mining sector, would alleviate economic challenges.

Amid these developments, Zambia’s dollar bonds have strengthened, indicating investor confidence as the country progresses towards finalizing its long-awaited debt restructuring. Moody’s, a credit rating agency, predicts that the agreement will bolster growth prospects for Zambia, signaling positive economic momentum.

The debt restructuring agreement represents a significant step forward for Zambia, fostering optimism for a brighter economic future as the country continues its journey towards stability and prosperity.

Suspended Mongu High Court Judge Wilfred Muma Pleads Not Guilty

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Suspended Mongu High Court Judge Wilfred Muma Pleads Not Guilty

Suspended Mongu High Court Judge Wilfred Muma has entered a plea of not guilty to the charges of willful failure to comply with the law and applicable procedures during his tenure as Commissioner of Lands. The alleged offense, as outlined in the Lands and Deeds Registry Act, has brought Muma before a panel of three judges at the Lusaka High Court.

Facing accusations dating back to his time as Commissioner of Lands, Judge Muma stood before a panel comprised of Judges Pixxie Yangailo, Annie Ononuju, and Ian Mabbolobolo to formally deny the charges levied against him. The case, which centers around Muma’s purported instruction to cancel a certificate of title for a public property in Lusaka between April 01 and December 31, 2018, has garnered significant attention within legal circles.

Earlier proceedings saw Muma challenging the jurisdiction of the Lusaka High Court to preside over his case, asserting that the matter should instead be adjudicated by the Lusaka Magistrate Court as the court of first instance. However, Judges Yangailo, Ononuju, and Mabbolobolo swiftly dismissed this preliminary issue, maintaining that they lacked the authority to overturn a prior ruling that referred Muma’s case to the High Court.

In June 2023 President Hakainde Hichilema removed then High Court Judge Wilfred Muma from the bench The President’s action followed the recommendations put forth by the Judicial Complaints Commission’s report.

In exercising the powers bestowed upon him by Article 143 of the Constitution, President Hichilema made the decision to drop Judge Muma from his judicial position.

Judge Muma’s earlier suspension in May was prompted by the recommendations made by the Judicial Complaints Commission. The suspension was based on allegations of willful failure to comply with the law and procedure in the case when he served as Commissioner of Lands prior to becoming a judge.

Judge Muma was recently embroiled in several high-profile cases involving allegations of misconduct. In one particular case, he was arrested for the alleged transfer of Zambia Army property in Lusaka to the Patriotic Front (PF) for use as party offices. This offense is said to have occurred between April and December 2018 during Judge Muma’s tenure as Commissioner of Lands. During the course of this case, Judge Muma caused a stir when he made an attempt to drown himself in the Zambezi River, although he was later found alive.

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